![]() The Perth Mint manufactures and markets the Australian Precious Metal Coin and Minted Bar Program. “Overall sales of gold minted products declined slightly, but the silver lining was additional capacity to make silver coins in the light of booming demand.” “Wholesale customers in America remained particularly active with investor demand there fuelled by banking issues,” he said. General Manager Minted Products, Neil Vance said that Australian and US buyers accounted for the lion’s share of activity in the gold bullion coin market. The table below highlights how these numbers compare to sales seen one month, three months and one year ago, and against monthly average sales dating back to mid-2012.Ĩ3% CURRENT MONTH SALES OF GOLD AND SILVER SOLD AS COINS AND MINTED BARS (TROY OUNCES) APR 2020 TO APR 2023. The Perth Mint sold 75,166 oz of gold and 1,947,743 oz of silver in minted product form during April. The Gold Silver Ratio decreased throughout April to finish the period at 80. Locally, silver ended the month around AUD 37.50, representing an increase of more than 5%. ![]() Silver experienced a near 10% increase by mid-month breaching USD 26, a 1 year high, before falling back to around USD 25 at the end of April. The local gold price was supported in April by the weakening of the AUD dollar to the USD dollar. Gold in Australian dollars ended the month slightly over AUD 3,000 after recently hitting a record of almost AUD 3,040. As the month ended, however, gold recovered to record a relatively flat position month on month. The price fell sharply when the US Purchasing Managers Index, a measure of the activity level of purchasing managers in the manufacturing sector, came out at 50.4 vs an expected 49.0. With stresses in the banking system triggering heavy safe haven buying on yield and US dollar declines, prices hit near USD 2,050 by mid-month. Gold jumped back above USD 2,000 at the start of April. Holdings in The Perth Mint listed ETP, ASX:PMGOLD, decreased 0.80% to 239,402 oz in April.Silver holdings dropped 0.61% to 36,671,273 oz during the month. The Perth Mint Depository’s total gold holdings decreased 0.14% to 1,808,517 oz.The Perth Mint sold 75,166 troy ounces (oz) of gold and 1,947,743 oz of silver in minted product form during April.“We continue to take steps to strengthen our compliance structures to ensure we play our part in protecting Australia’s financial system from criminal exploitation. “We take comfort that the auditor’s report confirmed the design and scope of our remediation program is appropriate to deliver effective remediation. "The board and executive team welcome the external audit as an opportunity to support and inform our ongoing efforts to improve systems and processes. “We are pleased AUSTRAC has noted the co-operation of our people during the process, the significant work the Mint has undertaken in remediating our anti-money laundering systems and processes, and that The Perth Mint has already completed a number of critical improvements. “We’re working hard to meet the expectations and maintain the trust of the WA community, the gold mining sector, our business partners and customers. “The Perth Mint is fully committed to its obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006,” Mr Walsh said. The Perth Mint Non-Executive Chair Sam Walsh AO welcomed the outcome and said the Mint was continuing to progress its remediation program to address compliance shortcomings. No fine has been imposed as part of the Enforceable Undertaking. As part of the Enforceable Undertaking the Mint will complete its Anti-Money Laundering Remediation Program which began in March 2021 and will conclude by 30 April 2025.The implementation of the Program will be assessed by an independent external auditor. The audit, carried out between November 2022 and July 2023 identified some compliance issues. It follows an independent external audit ordered by AUSTRAC to assess The Perth Mint’s compliance with Australian anti-money laundering and counter-terrorism financing laws. Gold Corporation, trading as The Perth Mint, has voluntarily entered an Enforceable Undertaking with the Australian Transaction Reports and Analysis Centre (AUSTRAC).
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